SK Hynix shares climbed after the company announced a roughly $29 billion stock buyback plan.
The company said its board also approved a plan to consider adding special dividends.
SK Hynix (SKHY) shares are rallying after the South Korean memory chip giant announced an accelerated stock buyback plan.
The company said it plans to buy back about 24.07 million of its shares, worth 40 trillion South Korean won ($28.79 billion), over the next three months.
SK Hynix said its board has also approved a plan to consider adding special dividends to boost the company's returns to shareholders to meet its target of returning at least 50% of its free cash flow to shareholders. SK Hynix had about 69 trillion won in net cash as of the end of the second quarter, per Wednesday's release.
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The company said its board also approved a plan to consider adding special dividends.
SK Hynix (SKHY) shares are rallying after the South Korean memory chip giant announced an accelerated stock buyback plan.
The company said it plans to buy back about 24.07 million of its shares, worth 40 trillion South Korean won ($28.79 billion), over the next three months.
SK Hynix said its board has also approved a plan to consider adding special dividends to boost the company's returns to shareholders to meet its target of returning at least 50% of its free cash flow to shareholders. SK Hynix had about 69 trillion won in net cash as of the end of the second quarter, per Wednesday's release.
#plan #company #south #billion
3 months ago
